From 2008 to 2010, the United States was in a recession, the effects of which are still being felt. While Oklahoma’s state budget was squeezed, we weren’t forced into the drastic measures of some states — raising taxes, laying off workers and being forced to borrow money from the federal government. Oklahoma took a hit, […]
The budget battles in Iowa and Washington, D.C., have again ignited the debate over national priorities. In a world of infinite wants and finite resources, our elected officials are forced to choose the best way to raise and allocate resources. Putting aside the superficial partisan squabbling, the process does illuminate what our elected officials truly […]
Today, the American Petroleum Institute (API) released a study, conducted by Wood Mackenzie, that found repealing the Intangible Drilling Costs (IDCs) tax deduction would have a profoundly negative impact on American energy production, including the men and women whose jobs depend on it. According to the study, repeal of the IDC deduction would cost 190,000 American […]
Delaying the oil and gas industry’s ability to quickly recover intangible drilling costs (IDC) would lead to significant losses in oil and gas production and jobs, and negatively affect the economics of many key oil and gas plays, according to a recent report commissioned by the American Petroleum Institute (API).
The Obama administration’s plan to alter tax deductions for some drilling costs would lead to the loss of 3.8 million barrels of oil equivalent per day from U.S. oil and gas fields, according to the American Petroleum Institute. A new study conducted for API by Wood Mackenzie concluded that President Barack Obama’s effort to eliminate […]
Don Nestor of Toothman Rice, P.L.L.C. explains what IDCs are and why they are vital to the continued production of American energy.
Some of the U.S. utilities that burn coal to generate electricity reacted with caution Tuesday to an Obama administration proposal to limit carbon-dioxide emissions, amid concern that the rules might target coal plants for emissions cuts, while letting other sources of emissions, such as petroleum fuels, off the hook. “The devil is in the details; the rules […]
Actor and anti-Fracking hysteria-monger Mark Ruffalo went a bit over the edge on Tuesday (as is his habit), lashing out at President Obama for failing to ban hydraulic fracturing in his speech on “climate change”. Ruffalo was quoted by Politico as follows: “Obama deserves praise for prioritizing climate change, but if he’s serious he needs to […]
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